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European parliament has voted overwhelmingly in favour of a bill enabling the creation of a new fund for social entrepreneurship (EuSEF), as well as introducing Europe-wide regulation of venture capital (EuVECA).

European parliament voted in favour of creation of a new fund for social entrepreneurship (EuSEF)

European parliament has voted overwhelmingly in favour of a bill enabling the creation of a new fund for social entrepreneurship (EuSEF), as well as introducing Europe-wide regulation of venture capital (EuVECA).

The changes to the law regarding EuSEF will take immediate effect, creating a brand new kind of European investment fund for the social economy. Commissioner Barnier has welcomed the vote, saying “These new EU initiatives will increase opportunities for innovative start-ups or social businesses to find capital. Better funding for smaller companies is key for Europe’s economy and it is now up to enterprising fund managers to seize the new opportunities as a matter of urgency”.